Housing unaffordability.Housing Unaffordability: The gap between what Californians earned and what they need to buy a median-priced home in the fourth quarter of 2004 increased by 41.6 percent from a year earlier, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. a report from the California California (kăl'ĭfôr`nyə), most populous state in the United States, located in the Far West; bordered by Oregon (N), Nevada and, across the Colorado River, Arizona (E), Mexico (S), and the Pacific Ocean (W). Association of Realtors. The median state household income of $53,240 was $56,070 short of the $109,320 qualifying income needed to purchase the median-priced home at $470,920. In 2003, the gap between median and qualifying incomes stood at $39,610. |
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